Hello, my friends and welcome to another episode of Passive Real Estate Investing. I'm your host Marco Santarelli while I'm really excited about our guest to today, Mr. John Burns, he is a wealth of knowledge when it comes to housing and the economy and what is going on across the country in terms of demographics trends and everything else. That's related to things that we're interested in as real estate investors. So today I'm gonna have a conversation with him about the US housing market, the past present future. We are gonna talk about trends and discuss things such as interest rates appreciation. What is going on in terms of COVID debt, income ratios, appreciation rates, the tipping point that may happen in the housing market and how that might affect you and how to prepare for that. So it's all a good conversation in today's interview. So with that, we're going to slide right in and talk to Mr. John Burns.

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It is an honor. And my pleasure to welcome John Burns to the show. John is the founder and CEO of John Burns Real Estate Consulting, a firm that is helping business executives make informed housing industry, investment decisions. And John also, co-authored an amazing easing book called Big Shifts Ahead. A book that was written to make demographic trends easier, to understand, quantify and anticipate. And I'm telling you, it's a fantastic book for real estate investors. I'm holding a copy of it. In my hand right here, I highly recommend you pick up a copy. It's only about six years ago that he wrote the book, but so much of it is still applicable to day. And it gives you a phenomenal understanding of demographics and what's going on in the country as it relates to the economy and housing. So with that, John, welcome to the show.

Thanks Marco. Great to be here.

Well, I'm excited to have you on, because I've been looking forward to this interview for a long time. I've got about 10 questions or so not a lot, but I know that you literally talk forever about some of the stuff cuz the depth of your knowledge is amazing. Let's just begin with a little bit about John Burns Real Estate Consulting. So people understand who they're listening to before we dive in, just tell our audience a little bit about John Burns Real Estate.

I started it a little over 20 years ago because I realized well at the time, actually it was hard to go get the data and figure out what was going on in the housing market. Over 20 years, it's changed to there being too much data, which, which you figure it out for me. But the commercial real estate industry was so sophisticated. They had their own research and it was easy to do cuz the buildings don't move around residentials a lot harder. So I just saw an opportunity to create a research department that everybody could use. And as long as I'm charging them you know, less than the cost of a person, it's hugely economical to them. And then we do supplement it with a consulting business. So we've got about 110 people, half of other than operations half are figuring out the housing market for our subscribers and the other half are doing consulting projects, very focused on new home development and growing in the building products in the single-family rental space.

Actually an amazing thing about your company is you have people scattered all over the country, even though you're based in Irvine, California, which just 15 minutes north of where I'm sitting. You've got people from Hawaii to Florida. It's amazing.

During COVID we had one go to England and one go to New Zealand and they're still with us.

Congratulations!

Home thing pretty well.

That's very cool. I love it. So let's just start big picture here.